Suning In Talks With Fortress, King Street & Bain Capital Over €250M Inter Loan, Italian Media Report

Suning In Talks With Fortress, King Street & Bain Capital Over €250M Inter Loan, Italian Media Report
April 22, 2021 12:15
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SempreInter.com

Inter’s owners Suning are in talks with three US-based groups over a loan deal to solve the club’s financial issues, according to a report in the Italian media today.

Il Sole 24 Ore said the Nerazzurri’s majority shareholders were already at work to find a solution after the collapse of the European Super League project, which would have guaranteed the club a huge influx of money.

Suning have ditched the idea of a ‘bridge loan’ to reach the end of the season and will instead seek a straight €250 million loan, with Goldman Sachs assisting their search.

They are negotiating with Fortress, King Street Capital Management and Bain Capital and will eventually choose to agree a deal with one of these groups.

Suning’s talks are complex because their creditors will need strong guarantees on their loan, unlike the companies who issued Inter’s bonds worth €375 million.

Inter’s bond issuers have been pledged income from TV rights as part of their deal, whereas the three US groups would need to have shares in the club pledged to them.

This would mean that, if Suning did not repay the loan by the agreed deadline, the US-based investor (whichever group is chosen) could become Inter’s new owners by default.

 

By Will Beckman

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